Most Americans Optimistic About Bitcoin And Crypto, Frustrated By Current Monetary System: Survey
Most Americans would like to see their monetary system change, according to a study conducted on behalf of Coinbase.A study conducted by Morning Consult on behalf of Coinbase examined the perceptions of the global financ...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Most Americans would like to see their monetary system change, according to a study conducted on behalf of Coinbase.
A study conducted by Morning Consult on behalf of Coinbase examined the perceptions of the global financial system and how U.S. adults and cryptocurrency investors view the future of the cryptocurrency market. It found that Americans believe the current financial system needs to be updated, and there is optimism about owning bitcoin as we head into the future.
The survey found that “80% of Americans say the global financial system unfairly favors powerful interests.” In addition, 67% said that the financial system needs a major overhaul. Interestingly, younger Americans are most likely to favor cryptocurrency and view it as a worthwhile asset for the future.
With the various challenges presented over the last couple of decades, including the 2008 financial crisis, the COVID-19 lockdowns and subsequent economic fallout, unsurprisingly, “Among U.S. adults, the top word associations with the global financial system are ‘expensive’ (34%), ‘unfair’ (30%), and ‘confusing’ (30%).”
20% of Americans own cryptocurrency, “which has remained consistent each quarter since January 2022,” the survey states. Despite the downturn in the broader cryptocurrency market as a result of various bankruptcies and failures in 2022, Americans consistently express interest in owning digital assets. Another interesting note is that current investors who already hold digital assets still hold a favorable view, with 84% likely to buy cryptocurrency over the next 12 months.
Many Bitcoiners have demonstrated the various ways in which the fiat monetary system exhibits the attributes that these respondents have applied to it. The survey is further evidence that changes to the monetary system are not only needed, but embraced by people who have been living under a fiat system their entire lives.
Why this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin MagazineRelated market context
Bolivia Evaluates Integrating USDT Into Its National Financial System Following Crypto Ban Reversal
During a press conference, Jose Gabriel Espinoza, the Minister of Economy and Public Finance of Bolivia, stressed that the governm...
Trading Crypto with Plus500 vs Crypto Exchanges: Review
This article positions Plus500 directly against the spot crypto exchange model that most BNC readers will already be familiar with...
Robinhood Chain’s Gas Subsidy Is Closing the Gap With Base: Future of Ethereum On Horizon?
Ethereum News: Robinhood Chain processed 7.6 million daily transactions on July 10, just 11 days after its July 1 mainnet launch,...
Bitcoin falls below $63,000 as markets give Hormuz traffic just 3% chance to normalize by August
Bitcoin slipped below $63,000 as renewed fighting between the United States and Iran pushed oil prices higher, drove bond yields u...
Europe's Post-MiCA Reshuffle: Two Data Points, One Confused Market
Roughly 80% of the more than 1,200 firms previously registered under national crypto rules failed to secure a Crypto-Asset Service...
Binance Futures Surge 80% in June as Spot Markets Hit Two-Year Low
Binance reportedly saw a significant increase in futures trading volume last month, with figures suggesting an 80% jump from May’s...